Disney's Live-Action 'Moana' Falters at Box Office, Raising Questions About Remake Strategy

Disney's live-action version of "Moana" opened with $43 million in North America and $95 million worldwide, far short of the $250 million production budget and $120 million marketing spend. Analysts say the film performed as a duplicate rather than an event, noting that audiences appeared more interested in a sequel than a remake.

"Disney’s strategy is dependent on whether audiences see the remake as an event or a duplicate," said Jeff Bock of Exhibitor Relations. The studio has already adapted many of its classic animated properties, including "Cinderella," "The Lion King," "Aladdin," "Mulan," "Dumbo," "The Little Mermaid," "Beauty and the Beast" and "Lady and the Tramp." With fewer older titles left, Disney has turned to more recent films, such as "Moana," for live-action treatment. Last year, the live-action "Lilo & Stitch" earned a billion dollars, showing that audience appetite for remakes remains, but success appears tied to timing and perceived novelty. David A. Gross of FranchiseRe noted that a film needs time to become a classic before a remake can succeed. Despite strong family popularity for the original animated "Moana," which is the most-watched title on Disney+, the remake has not translated that goodwill into ticket sales. Critics described it as a shot-for-shot retread, though CinemaScore audiences gave it an "A-" grade. Industry observers point to the film's release schedule as a factor; it opened alongside Disney and Pixar's "Toy Story 5" and Universal's "Minions & Monsters," and follows a Thanksgiving-theater release of "Moana 2," which limited the window for audience nostalgia. "Opening weekend is important, but ‘Moana’ is going to be about long-term playability," said Paul Dergarabedian, head of marketplace trends at Rentrak. Analysts estimate that "Moana" must generate roughly $600 million globally to break even after theater splits, a target it may miss given its current trajectory. By comparison, "Lilo & Stitch" cost about $100 million and achieved a billion-dollar gross. Disney continues to plan future live-action projects, including a sequel to "Lilo & Stitch" and spin-offs based on "Cinderella" and "Beauty and the Beast," while keeping budgets in line with expected returns.